contra

]http://www.moneycontrol.com/india/news/business/mahindra-lifespaces-incomeoperationsby-48/395036[/url]

Real Estate is still earning good operating income for the likes of Mahindra World City.

Like in any industry, even in Real Estate industry well managed companies are still earning profits.

It is only fly by night operators...some 3rd class 4th class builders who were never supposed to be there in the first place, who are reducing prices and giving wrong image to real estate.

contra

Mahindra World City Chennai is India's first and largest operating SEZ. 3 more Mahindra SEZs are coming up in Nashik, Jaipur and Pune. Now whoever said SEZs are finished in India must think again.

Simple law for India: This is an economy marching like a mighty elephant slowly but steadily, good companies in this economy will do well.

BigBear

The consolidated profit after tax and minority interest is Rs. 65.64 crores for the year ended March 2009 as compared to Rs. 66.39 crores for the year ended March 2008.

Their profits have fallen which means they are selling more at less price.What is there to be bullish !

lovebird

Whoever purchased the apartments in Mahindra world city are finding it difficulty in getting tenants.

Flats bought at Rs 60-70L are fetching hardly the rent of Rs 10,000

ks2071746

Dear friend,

Why talk about a far away place like Mahindra City, a place to be practically called as Chingleput and not as Chennai suburb? Even in places like Urapakkam, especially Arun Excello etc., (there are too many projects of reputed/standard builders coming up in the stretch) just imagine what sort of occupancy and rental one can expect. As I have indicated in my earlier posting, the occupancy in the project Arun excello is hardly about 25 to 35 flats in a large project and rentals are low. Very few cars are seen parked in the parking lot in the project even on a Sunday morning, possibly meaning that not the owners are occupying the flat, may be tenants not owning cars, many of them, which may possibly point towards lower rentals. Added to the lower rental is the high maintanence charges for such large projects in the range of Rs. 2 per month/sq. ft. atleast. The proejct is a well planned and built to decent standards, still there are many vacant - to be rented flats. The position may become still worse when the other big projects also get completed in the area.

ks2071746

lovebird

True, if any one wants to buy the flat it should be for his own living. If it is for rental purpose, then it will be a big loss

ks2071746

Dear friend,

At the present juncture, it is not advisable to put money in flats buying as an investment option. Rather better wait for atleast another 12 to 18 months. However, for one's own use in a locality best suited to the individuals preferences and needs, any time is a good time, if only the individual can manage the amount or EMI in case of loan.

ks2071746

Natarajg007

You seem to have learnt from me, even though you were fighting against me. I dont mind it!
So now let everyone know that flats are for living not for investment or rental as I ALWAYS said.
My student Ekalavya is learning fast...keep it up Lovebird.

ks2071746

Dear friend,

At this rate, the student will surpass the teacher very soon.

ks2071746

coleville

Rents are actually between 15K-18K for these flats. If furnished, they are between 28K-35K. Selling is just as bad. Asking for 65-75L, but most people are expecting around 45-55L.

The SDs and bungalows are not renting for much either. SDs are between 20K-40K; bungalows are 38K-55K though some short-term leases have gone nearly to a lakh for fully furnished.